BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of Pattern Energy Group Inc. (“Pattern” or the “Company”) (NASDAQ: PEGI) investors concerning the Company and its officers’ potential violation of federal securities laws.
On November 7, 2016, Pattern disclosed that it had a material weakness in its internal controls over financial reporting. According to The Company, internal controls were ineffective primarily because of “deficiencies related to the implementation, design, maintenance, and operating effectiveness of various transaction, process level, and monitoring controls.”
On this news, shares of Pattern fell over 3.5% to close at $20.86 per share on November 7, 2016. The Company’s stock price then fell another 9% on November 9, 2016, to close at just $19.05 per share, thereby injuring investors.
If you purchased Pattern securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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